St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-02
The COMMERCIAL RECORD.
On the Chicago Board Of Trade Yester-
day the Clique Took in About
All the Cash Wheat.
Most of the Monthly Deliveries Made
Quietly, Particularly by Those
Who We're Short.
There Was Some Excitement at the
Forenoon Opening, But This
Was Soon Allayed.
Transactions in the Financial Circles of
Wall Street.-The General
Quotations.
snecialto the Globe.

% Special to the Globe.
CHICAGO June 1.-The clique houses took
all the wheat this morning during delivery
hour kershaw 4 Co. took the M 1t, even
some of the other clique houses delivering
receipts 10 them About 100000 bushels
of wheat were going around on the floor,
Armour and the Allerton Packing company
delivering the biggest blocks. 1t is estimated
the clique houses took in yesterday about
100000 bushels in large blocks TO avoid a
rush to-day, so they hold now practically all
the wheat here. Ii was said on good author
ity that the clique houses did not get more
than one-eighth of the wheat due them.
When the wheat pit opened ut 1880 o'clock
June wheat was already 9oc bid and July
S6l9c There was all the excitement and
fury for the first half hour that the trade ex-
pected. June sold certainly as high as 91$Sc.
Irwin, Green Il Co. S brokers sold enough to
send it back to slice. July sold up to S67Sc,
and then reacted back to S6Lc. The
oLEAEANcEs OF WHEAT
from New York were 1866 600 bushels. The
Irwin, Green Il Co. sales of June quite upset
the market, but they were sold down for the
purpose simply Of controlling the market
They let so about 100000 bushels, Il big
line, certainly, to release il a bad. squeeze is
thought of. II is noticeable, however, that
while Irwin, Green u Co. were selling June,
RoSenfeld X Co, another clique house, were
actively picking up July at 2@3e discount.
This was all there was tothe clique opera
tions-the stopping of the pllnges made by
the market whenever the shorts showed
anxiety to cover. Afterward, WREN June re-
covered from SSI2c To SS$4c, Irwin, Green Il
Co. sold enough to put the price back to soc.
The crowd are annoyed at these amiable tao
tics. They never before saw Il wheat deal
run that way. The checks given TO June are
however, undoubtedly for the purpose of
checking sales here that would bring an I'M
natural amount Of the Northwestern wheat
here In week from now the freight rates
viii be back to Il point that will allow June
10 sell at 90c without making Minneapolis
shipments profitable and perhaps then the
figures will SO there Corn was bulled little
on the falling off of the receipts. 1t ought
naturally TO bull, for the shipments are in-1
creasing, and it is the belief that there is
concentrated holding III it of several million
bushels.
THE BIG SHORTS
have covered too, and even without much
merit corn ought to recover a little of the sc
decline which it has suffered in the last sixty
days. The prospect is that the Northwestern
railroads will agree to advance their freight
rates on grain between Minneapolis and
Chicago to lGc per hundred from 7l2c. This /
will mean an advance in the cost of trans
porting bushel of-wheat from 4l2c to &c,
and would make Il vast difference to the
shortsNyho had wheat in the Northwest or
could buy it up there. But the refusal of the
Northwestern and the st. Paul roads to ac-
cept more wheat for Chicago just now, on the
plea of want of storage, is even more signifi-
cant. 1t is pretty good evidence that the
wheat clique has as much influence with the
railroads as the wheat shorts. The fact that
Armour was caught short by the clique may
have had something to do with the dropping
OF the rate to Il2c from Minneapolis.
THE ROUTINE REPORT
CHICAGO. June 1.-The deliveries of wheat
on the board at the monthly delivery this
morning were very light, but all that went
around finally got lodged with the clique.
Most of the deliveries were made at the office
as none of those who were short cared to
have ii known. 1t was stated on good au-
thority that the clique did not get within
large amount of the wheat due them. The
amount of wheat delivered to-day is gener-
ally estimated at about 100000 bushels,
besides advance deliveries made YESTERDAY
afternoon; This puts about all of the cash
wheat in the hands of the Clique, as was ex-
Pected; When trading opened the crowd in
the wheat pit was very nervous. June
opened at 9OlSc and tfuctuated wildly at the
rear OF the shorts and whim of the clique
June quoted down considerable 1t got llp
to ollie and was taken in hand by the
Clique, who put enough property on
the market to send it back TO ssl2c. Alter the
clique let go of it again. June went I'D
around S9c and stayed there very steadily
Tor the balance of the morning session. JULY
wheat opened strong at S6l2c and in SYM
pathy with June got up to S634@S7c in the
first furry, but finally became more quiet
and sold downto S64c; around S6Ssc it held
steadily for long time and closed for the
day at that figure. June closed on the after
noon board at S9lsc The cold damp weather
was as much a bull factor in corn as the dry
weather of a week ago was. July opened
strong at 394c and sold to 1880 and was
very actively traded in all day, holding uni
formly steady around the latter figure. and
closed for the day at 39Ssc. Provisions also
opened strong. July short ribs started at
SILL? and sold at SITE in the first ff-
teen minutes Ribs were more active than
for some time and July sold up to S.. 20 i'm
the course of the forenoon and remained at
that figure until the close. Lard was quiet
though firm.
THE QUOTATIONS..
The leading futures ranged as follows.
Nheat-No. June, 901Sc, closing at S9lac:
July, S614c closing at S6$sc; August. 84l2c,
closing closing at S33sc; Corn-No. June, 37l2c,
August; 40$4c, closing at disc. Oats-No. 2
June, 25Ac, closing at 25ssc; July, 26ssc.
eei9sing at 26s8c; August, 26lsc, closing at
ing at S23. Lard-per 100 lbs, June. So. 37IS
closing at S6.42l2; July, S6.52l2, closing at
S6.22; august, S6;62l2, closing at $685.
ing at $40; July; S7.12l2, closing at
$40; August, S7.20, closing at 81 30
Cash quotations were as follows: Flour is
9ggiiet and unchanged. No. 9 spring wheat
SSi2nS9c; No. ) spring wheat, Use: No. 3
red, SS84c. Corn-No. 9. 3784c Oats-No
2: 23Is Sc Rye1No. ., sac; Barley-No 2,
othy seed, S1.75@1.77 Mess pork. per
bbl, So, 80. Lard per 100 lbs, 500. Short
ribs sides, loose, S7.05@7. 10; dry sailed
shoulders, boxed, S5.6O@5 20; short clear
sides boxed sz.4o@7.45. Whisky-Distiil.-
ers finished goods, per gal, 81 10. Sugar
Cut loaf, 6$s@65sc; granulated, 6Isc:
standard A. 5$4cs Receipts-FIour, 50 , 600
Dds; wheat 693, 900 bu; corn, 591, 900 bu;
oats, 52S,000 bu; rye, 1000 bu; barley
5000 bG. Shipments Flour, $4,000 bbis;
D wheat at; 10000 bu; corn, 4s2, 900 bu: oats,
221, 900 bu; rye, 1000 bu; barley. 3. 600 bu
On the produce exchange to-day the butter
market was steadier and firm on lighter
receipts; creamery, 13@17c; dairy. llMI5c
Eggs were very strong at 11@11Hc.
r, M. NEWPORT O. COM